Precioius GOLD w Fibs & ARCs on WEEKLiA very important level, there's some hidden divergence, that may be very bullish.
Hiddenbulldiv
Bitcoin Bottom Is In!Bitcoin (BTC/USDC) is looking amazing on the daily chart. Not planning on getting shaken out by this one!
Reason why I believe this local bottom is in:
Major hidden bullish divergence on the daily MFI
Regular bullish diversion on 12H MFI
Declining sell volume while price drops
Low volume on that drop yesterday (that was the capitulation candle imo)
Inverse head and shoulders (reversal pattern)
Hidden bullish divergence on the weekly BTC Dominance chart
Approaching bullish cross between MA50 and MA100 on weekly BTC Dominance chart (expecting a surge in bitcoin dominance leading up to this cross)
Over $1000 CME Gap to be filled
Bitcoin Halving fast approaching!
BTC Dominance:
Bitcoin CME Futures (Almost time to fill that gap!)
Ethereum Exponential Moves INC????!Good evening ladies and gents, like LTC, let me sum this one up ;).
1. Hidden Bullish Divergence on the Weekly MacD
2. Bullish Convergence on the Weekly RSI
3. Rounding Out Price Action
4. Bottom of a potential Fib Channel
5. MacD closing in on Positive Momentum??! :O
Just saying, go ahead and get rid of your assets because the "market is too boring" ;)
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CenturyLink Rounding Bottom/Golden Cross IncCenturyLink has turned teal on the Gaussian Channel and is showing a rounding bottom in price action. Hidden bullish divergence is playing out right now, but I'd like to point out a looming golden cross possibly coming to this asset. I think it is highly likely we'll see further price action to the upside to the common retraces at the least. But with a golden cross, maybe more is to come ;)
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LTC/USD Long Term PotentialI have it plotted like this because of the heartline touches. But this is LTC to the dollar on log scale overall trend. Guess what we are forming???!!! Weekly Hidden bullish divergence and Weekly Bullish convergence at the same time. Already showing a rounding bottom. And guess what just turned teal as well? You guessed it, the Gaussian channel :wink:
The gaussian channel is a phenomenal tool that I have just recently implemented to my trading strategy. It has proven time and time again on nearly all assets great success in an overall trend meaning using the daily and weekly time scale. I only use this for long positions. It doesn't work well with shorts unless its a down trend. It is dependent on the long term trend. Which is bullish for LTC, meaning taking a long here and holding for months will more than likely yield you insane gains
(Speculative Aspect) Now, to end it off with the speculative pattern atm. It is in the early stages of creating a potential harmonic. There are a few harmonics that can come out of this, but as of now, I have the more than likely outcome in my opinion to be the Bearish Crab. This means a potential shorting area at ATH's at the 1.618 fib. Can't say we'll get there yet. That is far out and we need to rely on the technicals that provide us potential moves now. But this is a pattern to keep an eye on ladies and gents!
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$BTC: 35tmT7MAQXZm7rr1KzZMWNRpN2iyrnSB4z
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$ETH: 0x390d207b9bde62f2806caddfb94809de61da50d9
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BTCUSD H1 chart (8/16/2019)Good morning, traders. Bitcoin printed a potential reversal with yesterday's daily candle. We now need to see a green daily candle to confirm it, however. Daily Stoch RSI is in oversold but curled up looking for a bullish cross. Yesterday's volume was the strongest seen in just under a month, and it was demand-related. The weekly, as mentioned during yesterday's live stream, is printing a possible hidden bullish divergence again. But if price continues higher through the EoW, then it will likely not close as such. That wouldn't be a huge issue, though, as it just means that we are getting higher lows in price and higher lows in the oscillator so they would be in agreement that demand is in control at that time.
I remain cautious at this time. Shorter TF charts are not giving strong signals in either direction. As we can see on this H1 chart, price is at the HVN. A move above suggests continuation higher to the next HVN, while a move below suggests the opposite. The orange zones are area of supply (we can see yesterday's move up was rejected in that zone) and the blue zones are areas of demand. I have also drawn two intersecting pitchforks to give traders an idea of resistance and support as price moves. I have also made the S1-S3 pivots more noticeable in red and slightly thicker.
Currently, price remains below the H1 S2 pivot, ascending pitchfork median, and descending pitchfork median. With price at the top of the HVN, it seems more likely that price will head up. If it can close above those three resistances mentioned, then traders should be looking for price to target the green box, and I would be leaning to price topping out around the EQ of that orange zone at $10840. If price heads down from here, through the two blue zones, then as I have continued to mention, the odds increase for a trip toward $8200/$8400.
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BTCUSDT H1 chart (8/8/2019)Good morning, traders. Nothing has really changed from yesterday, so I figured we could step back today and remove a lot of the clutter to take a much simpler look at the current price action.
This H1 Binance chart shows price consolidating near the descending channel resistance and ascending channel support as volume drops off appreciably. We can also see price remaining above the EQ of the horizontal dashed channel for now, but just below the 21 EMA. RSI shows hidden bullish divergence printing with Stoch RSI oversold and printing a bullish cross. RSI crossing above its resistance should coincide with price crossing above the descending channel resistance and signalling a bullish push up. The yellow zone is H4 demand, so a drop down should expect, at least, an initial bounce from that area. A TD 9 buy signal is currently printing on the H1. While this doesn't guarantee price will reverse, it does mean you should be watching a bit more intently for that reversal.
The H4 RSI is nearing a cross above its own resistance and Stoch RSI is nearing a bullish cross as it bounces off oversold. Price remains above the 21 EMA on this TF. Daily price is sitting on top of daily demand at this time while Stoch RSI is overbought. Daily RSI is bullish at 61. A TD 9 sell signal is currently printing on the daily chart, however the yellow boxes on that TF denoted significant similarities in price action which would suggest that there is a good chance that price pushes higher before reversing on the daily. This has often been the case on this bullish trend since December.
_____________________________________________________________
Be sure to hit the "thumbs up!"
Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life.
You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
Bitcoin in a right-angled broadening wedgeGood day Traders
The H&S is still playing out from my previous post with a stunted 38.2 fib retracement to print the right shoulder, although I still expect another wave up to complete it. The downward sloping flag from my previous post seems to have turned into a right-angled broadening wedge as we found support at the same level as 13 Jan. Yesterday's drop happened as expected on account of that bearish divergence on the 4H StochRSI, as well as our daily SMA50 resistance.
Although we never dropped as far as our $3440 support, we still fell relatively close, with a roughly $100 drop to $3480 (the same support we found on 13 Jan). This shows we still have strong support around the $3500 mark in the short term and that the bulls haven't handed the reigns over to the bears just yet, although they're quite close to doing so once this right-angled broadening wedge breaks out to the downside.
We also have a downward cross of the weekly StochRSI so looking to retest that weekly SMA200 and potentially our $3k round number support, which I expect to be immense.
For the short term, the $3500 support is holding well. We're oversold and we have hidden bullish divergence on the 3 hour StochRSI so I suspect we'll have another wave up to our broadening wedge resistance somewhere between $3870 and $3940 before we drop back below the SMA50 again. This will be more than a 61.8 fib retracement after our fall from $4100 and should complete the right shoulder of the H&S in my previous post, giving us a $3089 fib extension target, which coincides with the our broadening wedge target.
Once we breakdown from the wedge, I suspect the weekly SMA200 is going to initially hold at around $3300 where we should see a bounce to retest the wedge as resistance, before dropping through our weekly SMA200 to find our targets.
The question, is whether or not we are going to have a full weekly candle close below the weekly SMA200 (which has never happened and we don't want to start seeing that weekly SMA200 as resistance), or whether it holds or we have a strong wick below it before we close back above it. Either way, our $3k support and our weekly SMA200 are the key support levels which could keep us in a range bound market for the next few months if they prove to be too strong at this stage.
The way I see it, we either get capitulation in the next few weeks or we remain range-bound for months to come. If we do get capitulation after the wedge breakdown and a drop below our weekly SMA200, then I'm expecting it to be a quick pukey drop, first to our H&S target then towards our bottom, before we have a strong bounce back above our $3k support to test our weekly SMA200 once we hit those levels. This is where we'll determine whether we have a weekly candle close above the weekly SMA200 or below it. Otherwise we find support above $3k and head back up towards $4200.
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The Future of BTC?Price action + price target predictions.
Uploading this for my own amusement. Will revisit in time.
